Oyster policy is denoted in purple.
Statutory
The minimum wage an employee must be paid depends on their age or whether they are an apprentice. Generally, the basic rate of pay for all workers is GBP 9.50.
Workers younger than 23 years old and apprentices are paid lower rates according to the table below:
|
Age 23 and over (National Living Wage) |
ÂŁ9.50 |
|
Age 21 to 22 |
ÂŁ9.18 |
|
Age 18 to 20 |
ÂŁ6.83 |
|
Under 18 |
ÂŁ4.81 |
|
Apprentice |
ÂŁ4.81 |
Customary
The customary salaries vary across industries. The IT sector, as in other parts of the world, attracts highly skilled professionals and as a result the salaries are generally higher than in other sectors. Salary benchmarking and comparison tools could also be helpful in determining what salary to offer.
Best in Class
Many best-in-class companies use compensation ranges to establish upper and lower limits on what they offer as initial starting wages. They typically have a multi-factor criteria set for determining what, for any given candidate, is the fair starting offer, within compensation ranges, upon employment.